Capturing Economic Rents From Resources Through Royalties and Taxes

Oil price fluctuations, concerns over the division of resource revenues, and unconventional oil and gas developments are forcing governments to confront the same issue: how to design optimal royalty and corporate tax systems that bring in a publicly acceptable share of revenues without discouraging private investment. This paper surveys tax and royalty systems across six countries, as well as four US states and five Canadian provinces, offering concise analyses of their strengths and shortcomings to describe the best and simplest approaches to both. As in a public-private partnership, government owns the resources and allows private agents to maximize the rents resources generate. An optimal royalty system will thus be rent-based, ensuring that both owner and agent obtain maximally competitive returns so that each has incentives to continue the partnership. Such a system will also be simple, making compliance easy, manipulation difficult, and risks affordable. And it will be stable, instilling in the private sector the confidence needed to invest for the long term. As for corporate income taxes, they should be neutral across business activities, and applied at equal effective rates on economic income, to avoid distorting market forces through subsidies or needless complexity. A clean rent-based tax that allows all costs incurred by producers to be expensed or carried over, along with a corporate income tax system shorn of many of the preferences that negatively affect business activity, should be the way forward for any government looking to update their fiscal regimes for the 21st century

Interventions for hyperhidrosis in secondary care : a systematic review and value-of-information analysis

Background: Hyperhidrosis is uncontrollable excessive sweating that occurs at rest, regardless of temperature. The symptoms of hyperhidrosis can significantly affect quality of life. The management of hyperhidrosis is uncertain and variable. Objective: To establish the expected value of undertaking additional research to determine the most effective interventions for the management of refractory primary hyperhidrosis in secondary care. Methods: A systematic review and economic model, including a value-of-information (VOI) analysis. Treatments to be prescribed by dermatologists and minor surgical treatments for hyperhidrosis of the hands, feet and axillae were reviewed; as endoscopic thoracic sympathectomy (ETS) is incontestably an end-of-line treatment, it was not reviewed further. Fifteen databases (e.g. CENTRAL, PubMed and PsycINFO), conference proceedings and trial registers were searched from inception to July 2016. Systematic review methods were followed. Pairwise meta-analyses were conducted for comparisons between botulinum toxin (BTX) injections and placebo for axillary hyperhidrosis, but otherwise, owing to evidence limitations, data were synthesised narratively. A decision-analytic model assessed the cost-effectiveness and VOI of five treatments (iontophoresis, medication, BTX, curettage, ETS) in 64 different sequences for axillary hyperhidrosis only. Results and conclusions: Fifty studies were included in the effectiveness review: 32 randomised controlled trials (RCTs), 17 non-RCTs and one large prospective case series. Most studies were small, rated as having a high risk of bias and poorly reported. The interventions assessed in the review were iontophoresis, BTX, anticholinergic medications, curettage and newer energy-based technologies that damage the sweat gland (e.g. laser, microwave). There is moderate-quality evidence of a large statistically significant effect of BTX on axillary hyperhidrosis symptoms, compared with placebo. There was weak but consistent evidence for iontophoresis for palmar hyperhidrosis. Evidence for other interventions was of low or very low quality. For axillary hyperhidrosis cost-effectiveness results indicated that iontophoresis, BTX, medication, curettage and ETS was the most cost-effective sequence (probability 0.8), with an incremental cost-effectiveness ratio of £9304 per quality-adjusted life-year. Uncertainty associated with study bias was not reflected in the economic results. Patients and clinicians attending an end-of-project workshop were satisfied with the sequence of treatments for axillary hyperhidrosis identified as being cost-effective. All patient advisors considered that the Hyperhidrosis Quality of Life Index was superior to other tools commonly used in hyperhidrosis research for assessing quality of life. Limitations: The evidence for the clinical effectiveness and safety of second-line treatments for primary hyperhidrosis is limited. This meant that there was insufficient evidence to draw conclusions for most interventions assessed and the cost-effectiveness analysis was restricted to hyperhidrosis of the axilla. Future work: Based on anecdotal evidence and inference from evidence for the axillae, participants agreed that a trial of BTX (with anaesthesia) compared with iontophoresis for palmar hyperhidrosis would be most useful. The VOI analysis indicates that further research into the effectiveness of existing medications might be worthwhile, but it is unclear that such trials are of clinical importance. Research that established a robust estimate of the annual incidence of axillary hyperhidrosis in the UK population would reduce the uncertainty in future VOI analyses

Action learning in Brighton Business School

Includes bibliographical referencesAvailable from British Library Document Supply Centre- DSC:m03/18101 / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo

Resource-based learning about the business environment

Includes bibliographical referencesAvailable from British Library Document Supply Centre- DSC:m03/18102 / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo

Hot technology, cool academics#exclmation# An intranet for Brighton Business School

Includes bibliographical referencesAvailable from British Library Document Supply Centre- DSC:m03/18109 / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo

The international consultancy assignment

Includes bibliographical referencesAvailable from British Library Document Supply Centre- DSC:m03/18103 / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo

Byzantium for learning accounting in English business schools

Includes bibliographical referencesAvailable from British Library Document Supply Centre- DSC:m03/18105 / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo